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Learn how to reduce your expenses with these top ten tips and start saving money today!

Perhaps you’re looking to purchase your first home or you have a big loan that you need to pay off. By reducing your expenses, you can save extra money and put it towards things that are a priority for you.

1. Reduce the cost of your phone plan
Shop around for the best deals for your phone plan. Search for a phone plan that will suit your needs and fit into your budget. A simple way to compare phone plans is by use Finder. You may even like to consider leasing a phone – you don’t own the phone, however, it can end being around $10 cheaper and your phone company may even give you extra Internet data.

2. Reduce the cost of car insuranceSome car insurance companies charge an arm and leg for comprehensive car insurance, especially if you’re under the age of $25. Car insurance companies offer incentives, such as a free tablet or a certain percent off if you purchase your insurance online.

3. CANCEL your gym membershipIf you’re anything like me and sign up for a gym membership and say you’ll actually go to the gym and go a few times and never go again – yup, money going right down the drain. Depending on the cost of your membership, you could save up to $800 year or more.

My membership cost me $30 a fortnight and I only went a handful of times (guilty as charged).

4. Reduce the cost of utility billsResearch utility companies that will give you a better price. Some utility companies may offer a certain percent off your bill if you pay on time.

5. Shop for the best deals on groceriesPlan your grocery shops ahead of time and keep a hold on the supermarket catalouges, as you may be able to find the best deal for grocery items avaliable to you. Stock up on items that are on special that you may frequently buy.

6. Bring lunch to workPreparing your lunch at home and bringing it to work can help you save heaps of your hard earned cash. Let’s say you’re buying your lunchs and they cost you $10 each day – that’s potentially $50 a week on bought lunches.

You could use the $50 towards fuel or your next grocery shop. If you’re having trouble planning your meals, I recommend checking out The $5 Meal Plan. The $5 Meal Plan sends weekly meals straight to your inbox and they’re all planned for you! These meals are super quick to whip up and do not hurt your bank account. Click here to sign up for a free 14 day trial.

7. Stop purchasing takeaway coffeeI used to purchase takeaway coffee single everyday. It cost me over $70 a month! I now use that $70 towards my car insurance. I decided to invest in a french press and purchase ground coffee bags from the supermarket. It tastes just as delicious as a takeaway coffee. I french press at work and at home and I now only pay $10 a month for my coffee fix.

8. Refinance your personal/home loanRefinancing your personal/home loan can help you save a few hundred dollars each year. Shop around with each bank and compare different interest rates. You may even find a better deal by stopping into a branch and talking to a personal/home loan specialist.

Originally I had applied online for a personal loan and the interest rate at the time was 9.49% I then spoke to a personal loan specialist who was able to reduce the interest rate to 8.49%.

9. Cancel unused subscriptions
Paying for a subscription that isn’t being used? Cancel it right away. Perhaps you don’t need that magazine/newspaper subscription or you don’t need to pay for several online streaming websites.

10. Compare fuel pricesDepending on the area you live in fuel prices can be extremely dear. Find the best deal on fuel prices near you. I like to use the GasBuddy app on my phone to compare and find the best fuel prices.

These simple ways can help you reduce your expenses and save towards your future goals.

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Hello lovely! Thank you for coming on over to The Hustling Budget. My name is Tegan and I'm twenty-three years old from Australia. I'm here to show you have to save your hard-earned money, earn additional income and tips to start your own blog.